Progress Software Co. (NASDAQ:PRGS) Shares Purchased by Natixis

Natixis raised its position in Progress Software Co. (NASDAQ:PRGS - Free Report) by 287.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 518,700 shares of the software maker's stock after purchasing an additional 384,700 shares during the quarter. Natixis owned about 1.20% of Progress Software worth $33,793,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Progress Software by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,855,525 shares of the software maker's stock worth $381,487,000 after acquiring an additional 45,246 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Progress Software by 45,918.9% during the 4th quarter. Pacer Advisors Inc. now owns 1,143,110 shares of the software maker's stock worth $74,474,000 after purchasing an additional 1,140,626 shares during the period. Principal Financial Group Inc. increased its position in shares of Progress Software by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,045,240 shares of the software maker's stock worth $70,418,000 after purchasing an additional 43,936 shares during the last quarter. Geode Capital Management LLC raised its holdings in Progress Software by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,013,411 shares of the software maker's stock valued at $66,039,000 after buying an additional 4,927 shares during the period. Finally, Invesco Ltd. lifted its position in Progress Software by 0.7% in the fourth quarter. Invesco Ltd. now owns 802,523 shares of the software maker's stock valued at $52,284,000 after buying an additional 5,474 shares during the last quarter.

Insider Activity at Progress Software

In other news, CFO Anthony Folger sold 15,000 shares of Progress Software stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $56.30, for a total value of $844,500.00. Following the transaction, the chief financial officer now directly owns 44,564 shares of the company's stock, valued at $2,508,953.20. The trade was a 25.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ian Pitt sold 1,482 shares of Progress Software stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $56.60, for a total transaction of $83,881.20. Following the completion of the transaction, the insider now owns 7,613 shares in the company, valued at approximately $430,895.80. This represents a 16.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,185 shares of company stock valued at $1,024,193 over the last ninety days. Insiders own 3.60% of the company's stock.

Progress Software Price Performance

PRGS stock opened at $56.00 on Friday. The business's 50-day moving average is $55.80 and its two-hundred day moving average is $61.61. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $2.41 billion, a P/E ratio of 35.90, a P/E/G ratio of 2.82 and a beta of 0.85. Progress Software Co. has a 1 year low of $48.00 and a 1 year high of $70.56.

Progress Software (NASDAQ:PRGS - Get Free Report) last issued its quarterly earnings results on Monday, March 31st. The software maker reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.04 by $0.27. The company had revenue of $238.02 million during the quarter, compared to the consensus estimate of $235.64 million. Progress Software had a net margin of 9.08% and a return on equity of 41.56%. The firm's quarterly revenue was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 earnings per share. Analysts anticipate that Progress Software Co. will post 4.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on PRGS. Guggenheim reissued a "buy" rating and issued a $83.00 price target on shares of Progress Software in a research note on Tuesday, April 1st. Jefferies Financial Group boosted their target price on Progress Software from $65.00 to $70.00 and gave the company a "hold" rating in a research report on Monday, January 6th. StockNews.com lowered Progress Software from a "strong-buy" rating to a "buy" rating in a research report on Thursday, January 23rd. Wedbush reiterated an "outperform" rating and issued a $75.00 price objective on shares of Progress Software in a report on Tuesday, April 1st. Finally, DA Davidson lowered their target price on Progress Software from $75.00 to $70.00 and set a "buy" rating for the company in a report on Monday, April 14th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Progress Software presently has an average rating of "Moderate Buy" and a consensus target price of $74.33.

Progress Software Profile

Progress Software Corporation develops, deploys, and manages business applications in the United States and internationally. The company offers OpenEdge, an application development platform for running business-critical applications; Chef, a DevOps/DevSecOps automation software; Developer Tools that consists of software development tooling collection, including .NET and JavaScript UI components for web, desktop and mobile applications, reporting and report management tools, and automated testing and mocking tools; Kemp LoadMaster, an application delivery and security product offering cloud-native, and virtual and hardware load balancers; and Sitefinity, a digital experience platform foundation delivering intelligent and ROI-driving tools for marketers.

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